The first trading day of 2022 saw the ASX 200 surging by 2% to its highest level since August.

All eleven sectors were in the green, with the Energy sector rising by more than 3.4, and Mining up 2.2%.

The Energy sector was buoyed by coal stocks as investors digested news of an Indonesian coal ban that could put a rocket up thermal coal prices, and redirect coal flows across the Asia Pacific region.

Indonesia was China’s favourite choice to displace Australian coal imports, unofficially banned from the Asian nation since October 2020 after relations between the Morrison Government and China turned frosty.

Whitehaven Coal (ASX:WHC) led the coal rally today, with the stock price rising by more than 6%.

Lithium producers also rallied, following Tesla’s quarterly record sales and higher than expected sales announced overnight.

BIG CAP WINNERS

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Microchip specialist Brainchip (ASX:BRN) scooted up 15% after announcing the appointment of Pia Turcinov as a non-executive director. The company’s stock price might also have been buoyed by Tesla’s record fourth quarter announcement overnight.

Battery materials and tech company Novonix (ASX:NVX) also rose by 14%, possibly on the back of Tesla’s news.

Pilbara (ASX:PLS) and Lynas Rare Earths (ASX:LYC) were other green metal miners buoyed by the broad brushed sentiment surrounding electric vehicles batteries today.

BIG CAP LOSERS

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